Thailand Construction Equipment Market (2024-2030) | Trends, Industry, Value, Growth, Share, Size, Analysis, Outlook, Forecast, Companies & Revenue

Topics Covered in Thailand Construction Equipment Market Report

The Thailand construction equipment market report thoroughly covers the market by types and applications. Thailand construction equipment market outlook report provides an unbiased and detailed analysis of the ongoing Thailand construction equipment market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Thailand Construction Equipment Market Synopsis

Thailand construction equipment market has recorded substantial growth over the past few years primarily driven by increasing investment in infrastructural development projects and rising public and private sector partnerships for construction projects in the country. However, the global crisis caused by the arrival of a novel coronavirus at the beginning of 2020, and hindered the growth of the construction sector as well as the overall development of the economy in Thailand.

According to 6Wresearch, Thailand Construction Equipment Market size is projected to expand at a CAGR of 6.2% during 2024-2030. This growth is attributed to certain key government initiatives undertaken by the Thai government such as rising investment in public infrastructure development projects. The Thai government has increased investment in public projects such as roads and highways, airports and shipping ports in the country. The country is also concentrating on strengthening its transportation network. For instance, the government has started the transport infrastructure development master plan to enhancing the local connectivity and offer a competitive advantage to the country. Additionally, Thailand is a major manufacturer of certain key construction equipment such as crawler excavators, dozers, mini excavators, motor graders, and wheeled loaders. These factors will boost the Thailand Construction Equipment Market Growth.

Thailand Construction Equipment Industry: Leading Companies

Komatsu Limited is a well-known Japanese construction equipment company that has been operating in Thailand's construction industry for decades. Their products range from excavators, bulldozers, and wheel loaders, to trucks and motor graders. To meet the ever-increasing demand for construction equipment in the country, Komatsu has recently invested over $220 million to boost its production capacity. This has helped them to maintain their leading position in the Thai construction equipment market and to meet a wide range of customer needs.

Another significant player in the Thai construction equipment market is Caterpillar Inc., which is based in the United States. The player has been providing high-quality machinery and equipment for construction sites worldwide, and the equipment range includes heavy equipment such as excavators, backhoes, and front-end loaders among others. They have established a strong presence in Thailand and are known for their reliability, durability, and advanced technology. Their machines are well-suited for a wide range of construction work, ranging from residential housing to infrastructure projects.

Construction Equipment Market in Thailand: Government Initiatives

Thailand has taken some significant steps to incentivize the construction equipment industry in recent years. One of the key initiatives is the Eastern Economic Corridor (EEC) project. The EEC project is an ambitious initiative which aims at creating a new economic zone in the eastern region of the country, encompassing Chonburi, Rayong, and Chachoengsao provinces. It aims to attract foreign investors through tax incentives and offer them ease of doing business in Thailand. The EEC project, which focuses on industries such as logistics, automotive, and aviation, is expected to create a high level of demand for construction equipment. The Thai Government has also introduced several schemes and tax incentives for companies that invest in advanced technologies. This has encouraged companies to upgrade their manufacturing technology and efficiency, leading to a higher quality of construction equipment. In addition, the government is also keen to establish Thailand as the manufacturing hub for heavy machinery, which is why it is promoting collaboration between Japanese and Thai companies in the construction equipment sector.

Market Segmentation by Type

According to Parth, Senior Research Analyst, 6Wresearch, earthmoving equipment including bulldozers and angledozers, road rollers and tamping machines, loaders, excavators and cranes dominate the overall construction equipment market in Thailand primarily due to the rising number of public-private partnerships and government initiatives such as enhancing the road network in the country.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Construction Equipment Market Outlook
• Market Size of Thailand Construction Equipment Market, 2023
• Forecast of Thailand Construction Equipment Market, 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues & Volume for the Period 2020 - 2030
• Thailand Construction Equipment Market Trend Evolution
• Thailand Construction Equipment Market Drivers and Challenges
• Thailand Construction Equipment Price Trends
• Thailand Construction Equipment Porter's Five Forces
• Thailand Construction Equipment Industry Life Cycle
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Type for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and Volume by Cranes for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Construction Tractor and Bulldozer for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Earthmoving Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Aerial Work Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Material Handling Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Dump Trucks for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Road Construction Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Application for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Corporate Enterprise for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Oil and Gas for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Mining for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Regions for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Northern for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by North East for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Central for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Construction Equipment Market Revenues and volume by Southern for the Period 2020 - 2030
• Thailand Construction Equipment Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Regions
• Thailand Construction Equipment Top Companies Market Share
• Thailand Construction Equipment Competitive Benchmarking By Technical and Operational Parameters
• Thailand Construction Equipment Company Profiles
• Thailand Construction Equipment Key Strategic Recommendation

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types:

• Mobile Cranes
• Construction Tractor and Bulldozer
• Earthmoving Equipment
• Aerial Work Equipment
• Material Handling Equipment
• Dump Trucks
• Road Construction Equipment

By Applications:

• Corporate Enterprise
• Oil and Gas
• Mining
• Others (Municipality and Road Construction)

Thailand Construction Equipment Market (2024-2030): FAQ